Credit Suisse earnings q2 2018 

FABRICE COFFRINI | AFP | Getty Images

A Swiss flag flies over a sign of Swiss bank Credit Suisse on May 8, 2014 in Bern.

Credit Suisse reported Tuesday a net income of 647 million Swiss francs ($655.33 million) for the second quarter of the year.

The figure beat analysts’ expectations, which had pointed to a net income around 550 million Swiss francs. It is also more than double the level seen a year ago, when net income was 303 million Swiss francs.

Nonetheless, the bank’s performance came in slightly lower from what it had reported during the first quarter of the year, when net income stood at 694 million Swiss francs.

Here are some of the highlights for the second quarter:

• Net income: 647 million Swiss francs ($655 million)
• Net revenues: 5.6 billion Swiss francs ($5.57 billion)
• CET1 ratio: 12.8 percent

Tidjane Thiam, chief executive officer of Credit Suisse, said the second quarter of 2018 “was a period of continued strong performance as we achieved our highest adjusted pre-tax income in the last 12 quarters.”

“For the remainder of 2018, we will continue to focus on growing our wealth management franchise and completing the last two quarters of our restructuring successfully,” he said in a statement.

Thiam also promised that looking to 2019 and beyond, the bank will seek to improve profitability, higher returns and growing shareholder value.